MAGNET's New Venture Team Expands 2022 Mspire, Accepting Applications
2021's success catalyzed Mspire team to take the competition to the next level.
Last year’s Mspire, MAGNET's annual pitch challenge for Ohio-based manufacturing-focused entrepreneurs, garnered such high-quality results that we are leveling up this year's event. Mspire 2022 features an earlier event date, an afterparty at which presenters, judges and the manufacturing community can network, the premier of the Blueprint's Innovation mini-documentary and the involvement of a new partner. Applications are now being accepted. Read on to learn the details of all the ways 2022 Mspire is leveling up.
“Last year was such a success in getting awards to amazing companies as well as helping them make meaningful connections in our industry, so we are thrilled that ProMedica Innovation wants to join this pitch competition,” said Alec Simon, Director of Startup Services. “This incredible partnership with ProMedica Innovations helps us bring hard tech resources to even more startups across Ohio.”
ProMedica Innovations, based in Toledo, Ohio, is joining Mspire to expand the geographical base of the competition to Northwest Ohio. “We’re excited to collaborate with MAGNET and be part of accelerating the development of products that have the potential to turn into thriving businesses here in Northwest Ohio,” said Evan Bernath, Investment Analyst of ProMedica Innovations. “Manufacturing is important to healthcare and economic growth is critical to the vibrancy and well-being of the communities we serve.”
To accommodate both regions, finalists from each region will have a different presentation date on which they will present products and ideas. Northeast Ohio applicants will present on July 26 at MAGNET’s headquarters in Cleveland, while Northwest Ohio finalists will present on July 28.
The Northeast Ohio pitches will wrap up at 5:00 p.m., followed by an afterparty celebration and networking opportunity for all attendees and potential funders. It will also include the world premiere of our latest documentary about manufacturing innovation. Innovation is one of the pillars of the Blueprint for Manufacturing in Northeast Ohio, and the documentary expounds on ways to think about and implement innovation within manufacturing.
Media from around the region has been excited to report on the incredible entrepreneurs who have benefitted as Mspire winners. This past January, FreshWater Cleveland shared a piece on 2021 winner Coco's Chalky Paints. In February, Kenny Crumpton of Fox8's Kickin' It With Kenny spent his morning on-site at MAGNET, learning all about our services and interviewing past winners, including Dr. Chelsea Monty-Bromer from SweatID and Jamie Peltz from Forget Me Spot, both 2021 winners.
Applications are now being accepted through May 31, and details can be found here. If you know an entrepreneur with an innovation in hard tech, advanced materials, a physical product (or idea) that needs to be manufactured or technology to progress the manufacturing industry, please encourage them to apply.
More than $100,000 in grants and prizes are available for Ohio-based manufacturing start-ups, all customized to meet the needs of the entrepreneurs, in the same way that MAGNET’s startup services adapt to assist clients. Finalists’ products and ideas can also gain exposure to industry experts and potential investors, particularly the newly formed Advanced Manufacturing Fund.
“Through Mspire, we hope to engage entrepreneurs who are ready to create new products and who have innovative ideas to evolve manufacturing in our region,” Simon said. “MAGNET offers wrap-around resources through this event and year-round help to get new products and companies off the ground.”